Saudi Crown Prince Mohammed bin Salman has announced the establishment of the Saudi Downtown Company to build new cities and multi-purpose settlements in the kingdom.
According to the Saudi news agency SPA, the Saudi Downtown Company will work to establish new infrastructure in cities and develop strategic partnerships with the private sector and investors. It will provide them with new investment opportunities in the areas of marketing, business, tourism, entertainment and settlement.
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The concept of new projects will be taken from different regions of Saudi Arabia and their culture. The work will be done according to the latest standards.
The Public Investment Fund will promote commercial and investment activities in various cities of the Kingdom through the projects of the Saudi Downtown Company. Thanks to them, the cities will become attractive and will have a positive impact on the national economy.
New opportunities will be provided to private sector companies. Employment opportunities will also be created for the citizens of different regions of the state. Experiences and modern science in various fields will be greatly benefited. The new projects will provide a unique business environment.
The Saudi Downtown Company is part of the Saudi Crown Prince's mission to revitalize all areas of the Kingdom.
Prince Mohammed bin Salman believes that the urban economy will play an effective role in the development of the national economy. This will be done in coordination with the efforts of the Public Investment Fund and the new company.
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